Borrow to Buy

Disposal of Army & Navy surplus property abroad is going so badly that the U.S. has decided to lend foreign governments the money to buy it. So the Foreign Liquidation Commission reluctantly admitted last week. Already being discussed are 3O-year loans totaling $210 million: $100 million to Russia, $50 million each to Poland and Czechoslovakia, $10 million to Finland. Specifically for the purchase of surplus, they would be apart from the big overall U.S. loans now being discussed (see INTERNATIONAL).

FLC (which handles the sale of foreign surplus) had tried to sell...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!